BlackRock's Atlas freezes $1 billion in Brazil renewables investments
Atlas, the infrastructure unit owned by BlackRock, has frozen renewable energy investments worth roughly $1 billion in Brazil. The decision comes amid uncertainty over the country's energy transition policies.
Photo: Kaique Rocha / PexelsAccording to a report by Investing.com, BlackRock's Atlas Renewable Energy has suspended roughly $1 billion of investments in Brazil. The company attributed the decision to regulatory uncertainty and grid capacity issues in the country. The investments are said to cover solar and wind projects.
Brazil has emerged in recent years as one of Latin America's largest renewable energy markets. However, transmission bottlenecks and the queue of projects awaiting grid connection are making global investors more cautious. The Brazilian government's energy policy could come under closer review.
BlackRock's move is seen as significant because it reflects how global infrastructure funds view the Latin American market. Local analysts say the suspension could influence other large investors. The Brazilian government has not yet made a formal statement on the development.
More from South America
Macquarie and IG4 to sell controlling stake in Brazil's CLI to AD Ports for $835 million
Australian infrastructure fund Macquarie and private-equity manager IG4 Capital have agreed to sell their controlling stake in Brazilian multimodal logistics operator CLI to Abu Dhabi-based AD Ports Group for 835 million US dollars.
Violent protests erupt across Chile over government social programme cuts
Large demonstrations took place in Santiago, Valparaíso and Concepción as Chileans protested against government cuts to social programmes. Carabineros police used water cannon and tear gas while protesters attacked some public buildings. President Boric said the cuts were necessary for 'fiscal sustainability'.
Brazil rules out two suspected Ebola cases after laboratory tests return negative
Brazil's health ministry said two patients being monitored for possible Ebola infection have tested negative in laboratory analysis. The patients had been placed under observation in Belém and Rio de Janeiro. The ministry said its border-health unit will continue screening for travel history involving the DR Congo.